Peapack Gladstone Financial Corp Reduces Stake in Equinix, Inc. (NASDAQ:EQIX)

Peapack Gladstone Financial Corp lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,755 shares of the financial services provider’s stock after selling 160 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Equinix were worth $11,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. grew its holdings in Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Fortitude Family Office LLC grew its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 13 shares during the period. Sugarloaf Wealth Management LLC increased its holdings in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 20 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Equinix in the 2nd quarter worth about $36,000. Finally, Dunhill Financial LLC raised its stake in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the sale, the director now owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,398 shares of company stock worth $7,906,218. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Down 1.1 %

Shares of NASDAQ EQIX opened at $965.00 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average of $919.91 and a 200-day moving average of $845.58. The firm has a market capitalization of $93.11 billion, a price-to-earnings ratio of 87.02, a PEG ratio of 2.51 and a beta of 0.72. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, November 13th. Equinix’s payout ratio is 153.65%.

Analysts Set New Price Targets

Several analysts have recently issued reports on EQIX shares. Barclays boosted their price target on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and boosted their target price for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. Hsbc Global Res upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on Equinix from $870.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $976.81.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.